Show goes on for Coronavirus-hit events business thanks to CBILS
The company behind the UK’s first innovation event for the road transport sector – due to feature a keynote speech by astronaut Major Tim Peake – has rescheduled the show for 2021, retaining all exhibitors and sponsors, with the support of Lloyds Bank.
Warwick-based Binswood Media had a full line-up planned for the inaugural Innovation & Technology in Transport Hub (ITT Hub), which was due to take place at Farnborough International on the 13th and 14th of May.
Showcasing the largest display of hybrid, electric, gas and hydrogen-powered road vehicles of any UK trade event, ITT Hub planned to bring together professionals from across the transport and logistics industry to explore a sustainable future, address challenges and encourage collaboration on the road to net zero.
However, after the coronavirus pandemic hit and a UK lockdown was announced, the Binswood Media management team was faced with the prospect of cancelling its flagship event – and with it the income of a largely freelance workforce.
Turning to Lloyds Bank, chief executive Mark Griffin secured a six-figure loan through the Coronavirus Business Interruption Loan Scheme (CBILS) – turned around in just four days. It meant his team could reschedule the ITT Hub for May 2021 while retaining all sponsors and exhibitors, including National Grid, Centrica and Volvo Group.
Mark said: “The ITT Hub is a brand new event for the road transport industry and we’d already received overwhelming interest in it, so we were devastated at the thought of having to cancel.
“Not only has this new funding allowed us to reschedule but it’s also meant that we can support jobs in the events industry and help clients across the transport sector, both of which have been particularly badly hit by coronavirus.
“The team at Lloyds Bank bent over backwards to help us, even working weekends to ensure we could access the funds we needed.”
Roger Scott, area director at Lloyds Bank, said: “We’re working hard to help successful firms like Binswood Media navigate the unprecedented disruption caused by COVID-19. Our relationship with Mark spans more than two decades and we were able to secure funding with speed after his initial enquiry.”
The ITT Hub is a free-to-attend, two-day conference featuring 45 sessions and 120 speakers. It is supported by the Freight Transport Association (FTA).
